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 Replies: 8 / Views: 2,514 |
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New Member
United States
11 Posts |
Okay, I'm new to this so I'm going to ask a question that I'm sure a lot of you already know, but I'm confused.
I just recently registered with the US Mint and signed up for a subscription for Silver American Eagle Proof coins. According to their website the production of Uncirculated and Proof coins has been suspended, yet I see a number of places selling 2010 Silver American Eagles graded by PCGS at MS70.
I was under the impression that a PCGS MS70 coin is uncirculated.
Also, I was under the impression, obviously a wrong one, that the Proof coins were struck before any others. Does anyone know what the timing is of Proof coins being produced? Are the PCGS MS70 coins I am seeing for sale Uncirculated?
Dumb questions I'm sure but I would be grateful for anyone who can set me straight.
Thanks
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Valued Member
United States
55 Posts |
Last year, the 2009 BU Silver Eagles were released in January, at the big coin show in Florida if I recall correctly.
The proof coins were suppose to be released late in the year, before they were suspended. So the uncirculated coins are released earlier than the proof coins usually. The MS70 PCGS coins you are seeing are the BU coins.
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Pillar of the Community
United States
921 Posts |
The mint isn't producing the collector versions of ASE uncirculated and proof because of the demand for bullion ASE coins. What you see being offered are uncirculated bullion ASE. |
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Valued Member
United States
55 Posts |
Who are the bullion coins released to ? How does one go about getting the bullion coins ? Are they only provided to dealers ? Thanks for the knowledge RPT, as I too now realize I am a bit confused about the ASE's. |
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New Member
 United States
11 Posts |
Thanks for the replies. As far as Proofs go I understand but I guess I'm still confused as to the "Bullion" and "Uncirculated"
Are Uncirculated coins shipped by the mint packaged one at a time and the Bullion in tubes? Are they made with different dies.
If I purchase a 2008 PCGS MS70 Eagle is it a Bullion coin or Uncirculated coin or doesn't it matter. The reason I ask is if there is a difference between Bullion and Uncirculated why is it not designated by the grading services or is it that they don't really know or care?
Sorry to be a pain with the questions.
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Rest in Peace
 United States
1380 Posts |
Part of the confusion (I went through it too) is that there are THREE different ASE's. There is the bullion uncirculated sold only through dealers with no mint mark, the uncirculated one sold by the mint, frequently called a burnished ASE andwith a W mint mark, and then the Proof version, also sold by the mint. |
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Bedrock of the Community
United States
12437 Posts |
Quote:
Who are the bullion coins released to ? How does one go about getting the bullion coins ? Are they only provided to dealers ?
The Mint distributes them through an Authorized Purchaser network which is a relatively small group due to the requirements. Those Authorized Purchasers then further distribute them to the secondary market. Quote:
The reason I ask is if there is a difference between Bullion and Uncirculated why is it not designated by the grading services or is it that they don't really know or care?
The difference between Bullion and Uncirculated is a matter of mintmark and finish, the collector-grade Uncirculated version(first sold in 2006) has a special burnished finish and also carries the W mintmark while the Bullion version receives no special preparation and has no mintmark. However, all Eagles(silver, gold, and platinum) are currently produced at the West Point Mint. |
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New Member
United States
11 Posts |
Thanks guys. I really appreciate it. Now I know whats going on. I knew it had to be something simple.
Thanks again
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Pillar of the Community
United States
6326 Posts |
Just so you're clear too....the "only" 2009 ASE of "ANY" kind you could get for that year, is the "Bullion Uncirculated" ones from dealers. There was no Proof or Burnished Uncirculated minted from the U.S. Mint for 2009.So, "that" one is the only one you can have for last year. Though I don't know for sure.....I believe they will resume production of the Proofs and Burnished Uncirculated for 2010.....but you never know with the U.S. Mint ! I myself, got a slabbed and graded MS69 2009 ASE.....just so I've got " some" kind of ASE from that year ! |
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Replies: 8 / Views: 2,514 |
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Posted 02/03/2010 10:06 am
